Serabi Gold plc (AIM: SRB, TSX: SBI), the Brazilian-focused gold mining and development company, is pleased to announce highly encouraging exploration drilling results from the Toucano trend at its Sao Domingos project, as well as very encouraging results from its regional geochemical survey also at Sao Domingos.
Visible gold was identified in hole 21-SD-010 which returned a number of intersections including 7.15 metres at 258.24 grammes per tonne ('g/t') of gold.
Drilling on the Toucano trend at Sao Domingos has intersected three mineralised structures, all hosted within a mineralised alteration zone with a true width of 50 metres.
Mineralisation is confirmed along at least a 400 metre strike length and remains open at depth and along strike.
Significant new results received include.
21-SD-010 - 7.40m @ 1.95/t Au from 141.00m, including 1.90m @ 5.12g/t Au
21-SD-010 - 7.00m @ 9.68g/t Au from 151.55m, including 1.40m @ 26.24g/t Au
21-SD-010 - 7.15m @ 258.24g/t Au from 172.85m, including 3.55m @ 519.45g/t Au
21-SD-005 - 0.80m @ 89.03g/t Au from 140.00m
21-SD-005 - 4.70m @ 1.42g/t Au from 76.00m
21-SD-003 - 0.50m @ 6.22g/t Au from 42.00m
21-SD-003 - 1.80m @ 3.77/t Au from 67.25m
A Soil Sample geochemical survey, undertaken in the eastern area of the Sao Domingos tenement that runs into the western part of the Sao Chico Mining License, has defined multiple areas of anomalous gold in soils. These gold in soil anomalies are coincidental with and supported by other multi-element anomalies.
Mike Hodgson, CEO of Serabi, commented: 'These are an excellent set of further results and follow up on the maiden press release for exploration at Sao Domingos issued on 22 January 2021. Holes 21-SD-003 and 21-SD-010, together with the previously reported hole 21-SD-001, have all been drilled on the same drill cross section and the collective results are building a very encouraging picture. We have identified multiple high-grade veins, of which at least 3 are significant, in a 50 metre wide, sub-vertical, mineralised alteration zone. Hole 010 is the current highlight, where a drilled width totalling 70 metres of alteration was cut, within which multiple high-grade intersections including 9.68 g/t Au over 7.0 metres, 26.24 g/t Au over 1.40 metres and 258.24 g/t Au over 7.15 metres including 519.45 g/t Au over 3.55 metres were recorded. Visible gold was recorded in this last intersection.
'With holes 21-SD-005 and 21-SD-002, drilled on the next step out section, 200 metres to the north east along strike, returning further encouraging intersections including gold grades of up to 89 g/t, we are very encouraged with how Toucano is evolving. The plan is to complete the drilling along section 1 over the Toucano pit area to establish the full strike width of the mineralised zone, before moving along strike to the north east and south west, and repeating the drilling on a series of parallel sections. With artisanal activity and initial drilling already in place, we have a potential strike of 600 metres, and the plan is to replicate the drill coverage undertaken on the central section over that entire strike length.
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Forward Looking Statements
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